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Nintendo’s Founding Family to Sell Shares as Buyback Terms Set

Nintendo Co.’s founding Yamauchi family wants to sell its holdings in the world’s biggest maker of video-game machines as the company set terms for a 114.2 billion-yen ($1.1 billion) share buyback.

The company will purchase as many as 9.5 million shares, or 7.4 percent of its outstanding stock, at 12,025 yen apiece from interested investors today, Kyoto, Japan-based Nintendo said in a statement after yesterday’s market close. The heirs to former Chief Executive Officer Hiroshi Yamauchi, who owned about 10 percent of the total shares before his death in September, “desire to sell,” it said.